Business
Philippine Central Bank Delivers Another Rate Cut as Economy Slows
The Philippine central bank cut rates at its first meeting of the year, a widely expected move as weak growth underlines the need for more economic support.
Bangko Sentral ng Pilipinas lowered its benchmark overnight reverse repurchase rate by 25 basis points to 4.25% from 4.50% on Thursday, delivering a sixth straight round of easing. It reduced its benchmark lending rate to 4.75% from 5.00%.
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